Topic: IrDA

SC issues Notice over health insurance for Mental Illness

On June 16, 2020, the Supreme Court of India issued notice to the Insurance Regulatory Development Authority (IRDA) and the Union Government on providing Health Insurance for mental...

June 17, 2020

Cabinet Approval: Capital Infusion in three public sector Units OICL, UIICL and NICL

On February 12, 2020, the Union Cabinet approved on capital infusion in three Public Sector Units namely United India Insurance Company (UIICL), Oriental Insurance Company Limited (OICL) and...

February 13, 2020

FM chairs 20th Meeting of FSDC

The 20th Meeting of Financial Stability and Development Council (FSDC) was held under the Chairmanship of Smt. Nirmala Sitharaman, Union Minister of Finance and Corporate Affairs. Key Highlights...

June 20, 2019

Finance Ministry constitutes committee to consolidate regulation of pension products

The Union Finance Ministry has constituted a high-level committee to consolidate the regulation of pension products that is currently being done by three different watchdogs including insurance and...

October 13, 2016

Bancassurance

Bancassurance or Bank Insurance Model refers to the distribution of the insurance and related financial products by the Banks whose main business is NOT insurance. So, simply Bancassurance,...

April 27, 2015

Union Cabinet gives nod to 49% FDI in insurance sector

The Union Cabinet approved the proposal of increasing the Foreign Direct Investment (FDI) limit in the insurance sector to 49% from the existing 26%. The move is in...

July 25, 2014

SBI Life Insurance to appeal against the order of IRDA to refund Rs.275 crore

The Private sector life insurer, SBI Life Insurance would appeal against the order of Insurance Regulatory and Development Authority (IRDA) to refund Rs.275 crore to the policy holders...

March 18, 2014

Govt. allows FIIs, NRIs to invest in insurance sector

The Union Government has allowed 26% foreign investment in insurance sector in activities related to insurance viz. broking, Third Party Administrators (TPAs) and surveyors and permitted Foreign Institutional...

February 9, 2014

Justice B.N.Srikrishna Committee recommendations to be reviewed by a 9-member IRDA panel

The Insurance Regulatory and Development Authority (IRDA) set up a 9-member panle to review the 14 non-legislative recommendations made by the Financial Sector Legislative Reforms Commission (FSLRC). The...

February 5, 2014

Insurance broking model to be compulsory for banks soon: IRDA

Soon, the Insurance Regulatory and Development Authority (IRDA) may make the broking model for banks compulsory if significant traction is not achieved in Insurance penetration. Data from the...

January 20, 2014

‘Money Maxima’: A new product by Tata AIA Life launched

Tata AIA Life Insurance launched a product ‘Money Maxima’, a long-term plan which is compliant with new IRDA guidelines.  What is Money Maxima? Money Maxima is a long...

January 16, 2014

Suresh Mathur Committee: IRDS sets up panel to study FDI in insurance intermediaries & TPA

The insurance sector regulator, Insurance Regulatory and Development Authority (IRDA) set up a 10-member committee to study the options of allowing 100 % Foreign Direct Investment (FDI) in...

January 15, 2014